Lustig of Lustig Capital closes $66.668 million loan

360 Central Park West - New York, NY

New York, NY Bill Lustig of Lustig Capital, LLC, has arranged a $66.668 million construction loan for the condominium conversion of 360 Central Park West. The property, to be known as “360 CPW,” is a 145-unit, Rosario Candela apartment building located at the south corner of Central Park West and 96^th St.

Built in 1928, 360 CPW is one of Candela’s famous “church” apartment buildings, here incorporating the Second Presbyterian Church of New York within the building’s structure.

All of Candela’s pre-war buildings, with their signature terraced setbacks, are among the city’s most coveted residential addresses. 360 CPW also hosts the Alexander Robertson School (Junior K-5).

Contiguous apartments at 360 CPW will be combined into luxury homes, many with stunning Central Park views,

Bill Lustig, Lustig Capital

designed by premier architectural firm Cetra Ruddy and marketed by Stribling Associates. The new residences, with dedicated HVAC units, boast high end finishes and Miele and Bertazzoni appliances. The fully renovated lobby and common spaces will include a children’s play room, gym, bike room, private storage room and pet washing station. Additionally, all of the building’s physical systems will be replaced or upgraded in the course of its conversion to condominium ownership.

Lustig Capital, LLC previously arranged a $16 million loan for the same borrower for construction of The Artisan, a 65-unit rental property located at 1400 Clinton Avenue in Hoboken, New Jersey.